And the thing is that (I think!) more people are net debtors than net creditors and so this becomes extremely dumb quickly Like if I give a beggar with no debt a dollar boom he has more net wealth than the bottom 50% of Americans combined
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OK, I'm not an economist so I don't know what the terminology is, but is there a way to assign a value to creditworthiness? The people who can convince someone to lend them money, despite having exactly the same net worth as the beggar on paper, obviously have something more.
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Often it's "a steady income", but if it's all consistently spent to a zero balance month-after-month then their net assets are the same as the beggar with nothing who lives hand to mouth. The ability to convince a loan out of someone in that situation is an (intangible?) asset.
End of conversation
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